OxFORD Asset Management LLP Buys New Stake in Dril-Quip, Inc. (DRQ)

OxFORD Asset Management LLP bought a new stake in Dril-Quip, Inc. (NYSE:DRQ) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 15,628 shares of the oil and gas company’s stock, valued at approximately $695,000.

Other large investors have also recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC increased its position in Dril-Quip by 41.8% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,147,783 shares of the oil and gas company’s stock worth $138,975,000 after purchasing an additional 927,533 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Dril-Quip by 27.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,139,752 shares of the oil and gas company’s stock worth $153,221,000 after purchasing an additional 684,559 shares in the last quarter. BlackRock Inc. increased its position in Dril-Quip by 17.9% during the 2nd quarter. BlackRock Inc. now owns 4,221,751 shares of the oil and gas company’s stock worth $206,022,000 after purchasing an additional 640,319 shares in the last quarter. Northern Trust Corp increased its position in Dril-Quip by 119.7% during the 2nd quarter. Northern Trust Corp now owns 1,042,035 shares of the oil and gas company’s stock worth $50,851,000 after purchasing an additional 567,821 shares in the last quarter. Finally, Janus Henderson Group PLC increased its position in Dril-Quip by 269.0% during the 2nd quarter. Janus Henderson Group PLC now owns 637,160 shares of the oil and gas company’s stock worth $31,093,000 after purchasing an additional 464,501 shares in the last quarter.

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Several brokerages have issued reports on DRQ. B. Riley restated a “buy” rating on shares of Dril-Quip in a research report on Wednesday, November 1st. Zacks Investment Research upgraded shares of Dril-Quip from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research report on Wednesday, November 1st. FBR & Co upgraded shares of Dril-Quip from a “neutral” rating to a “buy” rating and upped their price target for the company from $49.00 to $55.00 in a research report on Tuesday, October 10th. TheStreet cut shares of Dril-Quip from a “c” rating to a “d+” rating in a research report on Friday, October 27th. Finally, Piper Jaffray Companies restated a “hold” rating and issued a $38.00 price target on shares of Dril-Quip in a research report on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $48.57.

In other news, insider Blake T. Deberry sold 10,000 shares of the company’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $44.66, for a total value of $446,600.00. Following the sale, the insider now directly owns 126,208 shares of the company’s stock, valued at approximately $5,636,449.28. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Blake T. Deberry sold 14,819 shares of the company’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $41.49, for a total transaction of $614,840.31. Following the completion of the sale, the insider now directly owns 113,175 shares in the company, valued at $4,695,630.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,662 shares of company stock worth $2,013,999. Insiders own 0.87% of the company’s stock.

Shares of Dril-Quip, Inc. (NYSE DRQ) opened at $47.30 on Monday. Dril-Quip, Inc. has a 12 month low of $35.85 and a 12 month high of $67.95. The company has a market cap of $1,770.00, a price-to-earnings ratio of -63.92 and a beta of 0.73.

Dril-Quip (NYSE:DRQ) last posted its quarterly earnings data on Friday, October 27th. The oil and gas company reported $0.05 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.06. Dril-Quip had a negative net margin of 6.14% and a positive return on equity of 1.19%. The company had revenue of $100.35 million for the quarter, compared to analyst estimates of $106.74 million. During the same period in the prior year, the firm posted $0.63 EPS. The company’s quarterly revenue was down 18.8% on a year-over-year basis. equities analysts predict that Dril-Quip, Inc. will post 0.21 EPS for the current year.

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Dril-Quip Profile

Dril-Quip, Inc (Dril-Quip) designs, manufactures, sells and services engineered drilling and production equipment. The Company’s operations are organized into three geographic segments: Western Hemisphere, including North and South America, headquartered in Houston, Texas; Eastern Hemisphere, including Europe and Africa, headquartered in Aberdeen, Scotland, and Asia-Pacific, including the Pacific Rim, Southeast Asia, Australia, India and the Middle East, headquartered in Singapore.

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